Egypt's Sarwa Capital falls 15% on market debut

Shares in Egypt's Sarwa Capital fell 15.1 percent on their first day of trading on the Egyptian stock exchange, bourse data showed on Monday.

Sarwa's flotation is among a number of new share offerings from both private and state companies expected to test investor appetite in Egypt over the coming months.

Sarwa's shares began trading at 7.36 Egyptian pounds per share after a public and private offering worth 2.17 billion Egyptian pounds ($121.5 million). They closed at 6.25 pounds per share.